By Kingstons Magare 14.6.2026
Nigerians have reacted to the International Monetary Fund (IMF) prompting President Bola Tinubu to introduce value-added tax (VAT) to fuel products and excise duties on telecommunications services.
According to the IMF this is necessary to enable the government to increase its revenue base to enable itfund development and social spending.
The recommendation is contained in the IMF’s 2026 Article IV consultation report on Nigeria, released on June 9, where the Washington-based lender said recent tax reforms may not be enough to sustain the government’s spending plans over the medium term.
“Further tax policy changes will likely be needed–such as increasing the VAT rate, extending VAT to fuel products, rationalizing tax expenditures in particular VAT exemptions on extractive industries and some customs duties, and introducing telecom excises — to complement administrative gains,” IMF said.
Nigerians on X social media platform had their say.
@Eze_Wilberforce: “Government officials in Nigeria live lavishly on taxpayers’ money, while many citizens can barely afford two square meals a day. Why can’t the IMF advise the government to first cut the high cost of governance instead of imposing more taxes on struggling Nigerians?”
@KcUdenna: “Same was they have kept telling these illiterate Nigerian politicians (including the CBN officials) several years ago that devaluation of the naira was going to help… It messed us up and now they still shamelessly open their mouths to say this?”
@Ogabatho: “Heartless Tinubu go still mumushly implement Watin dem recommendation.
@luckyobetta4: “Who asked the IMF for help, is our national revenue our problem or a corrupted system ? Somebody help me tag those guys if they have X handle
Nigeria that can’t even conduct a free and fair election, increase in Nigeria’s revenue is an increase in money to be embezzled.”
@firstladyship: “Why is IMF asking Nigeria to impose additional fuel & telecom taxes to overburden the already struggling masses? The answer is simple: A third of Nigeria’s Total External Debt Stock was borrowed from the World Bank Group.
“Nigeria owes the World Bank approximately $19.89 billion. This is inclusive of the $9.65 billion that Bola Ahmed Tinubu has borrowed.
This debt is from two main arms of the WB:
“Nigeria owes a whopping Concessional loan of $18.51 billion to the International Development Association (IDA). THAT’S NOT ALL! You owe an extra $1.38 billion to the International Bank for Reconstruction & Development (IBRD) as well.
“* IBRD is the lending arm of the World Bank.
* IDA is a development finance institution. IDA is a member of the World Bank Group as well.
Both Institutions are headquartered in D.C.”